The OCC finally released its actions through the middle of December 2010 as we have been waiting for the past two weeks. By and large, the OCC actions were the conversion of Formal Agreements to Consent Orders for six national banks with only one new entrant. The major changes this week result from the publication of nine actions issued by the Illinois Department of Financial & Professional Regulation. We applaud the transparency of the Illinois Department as they are the only state banking authority that publishes its safety & soundness enforcement actions against banks.

This week there are 11 additions and seven removals. The changes result in the Unofficial Problem Bank List having 937 institutions with assets of $409.4 billion, compared with 933 institutions and assets of $410.4 billion last week.

The seven removals include the four failures this week -- United Western Bank, Denver, CO ($2.1 billion Ticker: UWBK); CommunitySouth Bank and Trust, Easley, SC ($441 million Ticker: CBSO); The Bank of Asheville, Asheville, NC ($195 million Ticker: WFSC); and Enterprise Banking Company, McDonough, GA ($101 million). The other removals are Pacific Valley Bank, Salinas, CA ($172 million Ticker: PVBK), which announced in a press release that the FDIC had terminated its Consent Order and two problem banks that were acquired in unassisted transactions in December 2010 -- First National Bank of Chester County, West Chester, PA ($1.1 billion); and ShoreBank, Pacific, Ilwaco, WA ($180 million).